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Bailed Out Bank of America Sponsors Super Bowl Fun Fest

ReverendHellh0und

ReverendHellh0und

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Bailed Out Bank of America Sponsors Super Bowl Fun Fest

ABC News: Bailed Out Bank of America Sponsors Super Bowl Fun Fest


The event – known as the NFL Experience – was 850,000 square feet of sports games and interactive entertainment attractions for football fans and was blanketed in Bank of America logos and marketing calls to sign up for football-themed banking products.
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You gotta be freaking kidding me. If anyone thinks any of these crooks deserve this so called "bailout" money. Please step foward. :roll:
 
First, I don't agree with the bailout. These companies shouldn't get a dime.

Second, this is obviously a marketing strategy by BofA. If they are not spending their money on marketing their products/services in the attempt to create new business thus improving their profits then what are they supposed to use the money on?

They spent money marketing their services to potential customers. It's not like they were buying a private jet, giving their executives inflated bonuses or taking them on ridiculously expensive retreats.
 
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How is that anything but marketing?

It's not like they took the senior staff on an extended tour of the Caribbean (which is not something they do anyway, by the way).
 
It's pretty standard stuff.
 
Reverend, do you think that the public should have a say in how private companies are run if they are subsidized by the government?
 
Reverend_Hellh0und said:
If anyone thinks any of these crooks deserve this so called "bailout" money. Please step foward. :roll:
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Do you think they did this for the amusement of NFL fans and not because a company, big or small can't possibly hope to get any new customers other then through marketing, which is exactly what this is? What is bigger then the Superbowl during the first quarter of any year?
 
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Khayembii Communique said:
Reverend, do you think that the public should have a say in how private companies are run if they are subsidized by the government?
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Yes, to the extent that they should be allowed to stipulate how the money of mine they are giving is spent.

but I do not believe in coporate welfare either.
 
Hatuey said:
Do you think they did this for the amusement of NFL fans and not because a company, big or small can't possibly hope to get any new customers other then through marketing, which is exactly what this is? What is bigger then the Superbowl during the first quarter of any year?
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Lets see the ROI....I will wait.
 
If banks can't handle the criticism that people give them they shouldn't be so willing to take bailout money from the government (which they really shouldn't have gotten in the first place) and throw it around like confetti. I personally think it's hilarious that some of these banks don't seem to know how to manage money properly. It's a bank! I think it's obvious that some of these banks don't know how to survive in a world of economic crisis so I think we should let them fall by the wayside.
 
Reverend_Hellh0und said:
I'm not. :mrgreen:





Do you think it was a good idea?
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I've got no problem with it at all. Like I said, it's standard stuff.

And I know Bank of America. I know how high its business standards are, because I was an officer for years. I know Ken Lewis. This wasn't some party on the public's dime. This was marketing.
 
Reverend_Hellh0und said:
Yes, to the extent that they should be allowed to stipulate how the money of mine they are giving is spent.

but I do not believe in coporate welfare either.
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Would you either require the company to...
  1. Not spend the federal loaned money on marketing initiatives to increase their customer base
  2. Require those marketing initiatives to get public approval before they are launched.
 
jallman said:
Return on investment, I would imagine.
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No...I know what he means...I'm just trying to figure out how we're supposed to measure the return on investment for something like this. If the Bank of America succeeds and gets back on it's feet, will it be solely because of this or what? What kind of standard is he setting for what is a 'return'? The return as I see it is thousands of new potential customers.
 
Harshaw said:
I've got no problem with it at all. Like I said, it's standard stuff.

And I know Bank of America. I know how high its business standards are, because I was an officer for years. I know Ken Lewis. This wasn't some party on the public's dime. This was marketing.
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I have much less a favorable view of the crooks at BOA (no offense) and some of thier practices.



How is spending how much? going to help them "market"? This was a superbowl party.
 
Gibberish said:
Would you either require the company to...
  1. Not spend the federal loaned money on marketing initiatives to increase their customer base
  2. Require those marketing initiatives to get public approval before they are launched.
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:lol: you are asking me to be a socialist. I do not know. Socialism is my weakness. I do not do it very well...


They would not get the money. How about that?
 
Hatuey said:
No...I know what he means...I'm just trying to figure out how we're supposed to measure the return on investment for something like this. If the Bank of America succeeds and gets back on it's feet, will it be solely because of this or what? What kind of standard is he setting for what is a 'return'? The return as I see it is thousands of new potential customers.
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So you are suggesting BOA went into this blind? I mean really. Lets see a thousand new customers...

Ok that sounds like a stretch. how much did this shindig cost. Divide that by the average deposit account....


I dunno. Seems like they could have chosen a better way.
 
What's the point of advertising for new customers when probably 90% of them won't even be eligible for new loans due to tighter credit requirements? The bailout money was not for advertising, it was for freeing up credit.

Of course, we can't know if BoA used any of the bailout money for this advertising, because BoA has not recorded or accounted for what they've done with one penny of the bailout money.

FOXNews.com - Where'd the Bailout Money Go? Shhhh, It's a Secret - Local News | News Articles | National News | US News
 
Reverend_Hellh0und said:
I have much less a favorable view of the crooks at BOA (no offense) and some of thier practices.
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Oh? Like whom, and what?


How is spending how much? going to help them "market"? This was a superbowl party.
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Advertising. Was branded all over the place. They also had reps on hand to explain products and sign up customers.

Like I said, standard stuff.
 
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